Ichimoku indicator analysis of gold for December 8, 2017
December 8, 2017 9:21 am
Gold price remains in a bearish trend and moving lower still. Price has reached our target area but we could see a strong bounce today after the NFP announcement. I do not prefer to remain short at current levels.
Gold has made an equal extension downwards to the first leg down from $1,297. Gold price remains in a bearish trend in the short-term. Gold price has resistance at $1,254 and next at $1,260. Gold could bounce today after the NFP.
On a weekly basis Gold price has reached our target of the upper Kumo (cloud) boundary at $1,247. Gold price should bounce strongly from current levels. For a new upward move to be confirmed, Gold price must close on a weekly basis above $1,290.The material has been provided by InstaForex Company – www.instaforex.com
Gold price remains in a bearish trend and moving lower still. Price has reached our target area but we could see a strong bounce today after the NFP announcement. I do not prefer to remain short at current levels.
Gold has made an equal extension downwards to the first leg down from $1,297. Gold price remains in a bearish trend in the short-term. Gold price has resistance at $1,254 and next at $1,260. Gold could bounce today after the NFP.
On a weekly basis Gold price has reached our target of the upper Kumo (cloud) boundary at $1,247. Gold price should bounce strongly from current levels. For a new upward move to be confirmed, Gold price must close on a weekly basis above $1,290.The material has been provided by InstaForex Company – www.instaforex.com
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